TexMessage: Rep. Ron Paul versus Fed Chairman Ben Bernanke

TEXMESSAGE

Friday, March 2

Good morning, TexMessagers. How many times have you heard Rep. Ron Paul say “fiat”?

TEXclusive

It’s an image sure to get you on national TV: Ron Paul waving around a silver dollar at a hearing. No, it was not for a magic show, but to prove his point about inflation.

The Republican from Lake Jackson faced his archnemesis (the Federal Reserve) with his rhetorical A-game, silver dollar in hand as proof of its stable and consistent value.

He explained what he believed to be the flaws in our monetary system today, as well as his ideal economic policies.

“You took over the Fed in 2006,” said Paul. “I have a silver ounce here, and this ounce of silver back in 2006 would buy over four gallons of gasoline. Today, it will buy almost 11 gallons of gasoline. That’s preservation of value, and that’s what the market has always said should be money.”

After Paul’s rant, Federal Reserve Chair Ben Bernanke began his rebuttal with, “First of all, good to see you, too, Congressman Paul.”

Feel free to watch the segment below:

Presidential campaign watch

Every morning, we share some headlines from 2012 presidential campaign.

Reader Comment of the Day

“This has got to be a part of the “No Congressperson Left Behind” program. This is where Congresspersons get rewards and acolades even if they have to lower the standards of performance so low that Fluffy and Fido qualify!”

Texas Watch

TxPotomac lets you know what stories to look out for later this week.

Today:

★ Friday, March 2. John Legend to perform at the Houston Livestock Show and Rodeo

Tomorrow and beyond:

★ Saturday, March 3. Washington Caucuses

★ Saturday, March 3. Luke Bryan to perform at the Houston Livestock Show and Rodeo

★ Sunday, March 4. Big Time Rush/China Anne McClain to perform at the Houston Livestock Show and Rodeo

★ Monday, March 5. GOP Debate in Simi Valley, Calif.

★ Monday, March 5. Eli Young Band to perform at the Houston Livestock Show and Rodeo